With a 60.05% increase in turnover, the first half of 2022 closed for Loulis Mills, driven both by an increase in sales volume and mainly by a significant increase in flour prices, which is a consequence of the significant increase in grain prices after the start of the war in Ukraine. In particular, according to the results announced yesterday by the listed company, consolidated sales amounted to 97.59 million euros from 60.97 million euros in the first half of 2021. products and bakery and confectionery mixtures, as in the first half of 2022 they amounted to 10.9 thousand tons, while in the previous period they were at the level of 10.1 thousand tons.

The volume of sales in the category “Professional flour products” for the first half of 2022 in the group amounted to 124.1 thousand tons, showing an increase of 6.60% compared to the previous period. Sales in the category “Mixes and Raw Materials for Bakery and Confectionery” for the first half of 2022 showed sales to third parties of 5.67 million euros, an increase of 81.92%. “The increase in sales in the above categories was due to higher selling prices for products in the first half of 2022, as a compensation for the unprecedented increase in prices for raw materials, auxiliary materials and energy costs in production,” Myloi Louli said in an economic report. Operating profit increased by 62.41% to €6.87m at the group level, and pre-tax profit nearly tripled to €2.22m from €0.79m in the first half of 2021.

In the second half of 2022, the group expects a greater recovery in food demand compared to 2021, but indicates, however, that the impact in the next period, as well as the course of the recovery, cannot be estimated, as they depend on the course of indicators and quantities, such as international prices for raw materials and auxiliary materials, energy costs, domestic and regional demand, the evolution and effectiveness of the vaccination program at the international level, any new mutations and re-outbreaks of the pandemic, the impact of fiscal and monetary policy measures, etc., on which the group cannot influence.